PayPal Holdings, Inc. $PYPL Position Lowered by OFI Invest Asset Management

OFI Invest Asset Management trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 56.0% in the second quarter, Holdings Channel reports. The firm owned 1,527,160 shares of the credit services provider’s stock after selling 1,946,588 shares during the quarter. OFI Invest Asset Management’s holdings in PayPal were worth $65,943,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PYPL. Bard Associates Inc. bought a new stake in shares of PayPal in the 4th quarter valued at approximately $25,000. Kelleher Financial Advisors acquired a new stake in shares of PayPal during the 3rd quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd lifted its stake in PayPal by 15,233.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 460 shares of the credit services provider’s stock worth $27,000 after purchasing an additional 457 shares during the last quarter. Safe Harbor Fiduciary LLC bought a new position in PayPal during the fourth quarter worth $28,000. Finally, Advocate Investing Services LLC acquired a new position in PayPal in the fourth quarter worth $30,000. 68.32% of the stock is owned by institutional investors.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $60.59 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market capitalization of $51.83 billion, a PE ratio of 11.45, a P/E/G ratio of 1.45 and a beta of 1.30. PayPal Holdings, Inc. has a 1-year low of $38.46 and a 1-year high of $79.21. The business’s fifty day moving average price is $49.72 and its two-hundred day moving average price is $47.18.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.10. The company had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.47 billion. PayPal had a net margin of 14.36% and a return on equity of 24.39%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.40 earnings per share. On average, research analysts expect that PayPal Holdings, Inc. will post 5.37 EPS for the current year.

PayPal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. PayPal’s payout ratio is presently 10.59%.

Insiders Place Their Bets

In other news, insider Suzan Kereere sold 3,379 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $42.79, for a total transaction of $144,587.41. Following the completion of the transaction, the insider directly owned 30,983 shares in the company, valued at approximately $1,325,762.57. The trade was a 9.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Frank Keller sold 4,612 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $42.54, for a total value of $196,194.48. Following the completion of the transaction, the insider directly owned 41,567 shares of the company’s stock, valued at $1,768,260.18. This trade represents a 9.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 10,612 shares of company stock worth $484,534. Insiders own 0.63% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on PYPL shares. Cantor Fitzgerald boosted their target price on shares of PayPal from $54.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research report on Tuesday, May 5th. Argus set a $70.00 price target on shares of PayPal in a report on Wednesday, July 29th. Clear Str raised shares of PayPal to a “hold” rating in a research report on Thursday, July 16th. Finally, Mizuho increased their price objective on shares of PayPal from $50.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Nine investment analysts have rated the stock with a Buy rating, thirty-four have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $55.72.

About PayPal

PayPal Holdings, Inc operates a global digital payments platform that enables consumers and merchants to send and receive payments online, on mobile devices and at the point of sale. The company provides a broad set of payment solutions, including a digital wallet, merchant payment processing, checkout services, invoicing and fraud-management tools. PayPal’s platform is designed to support e-commerce, in-person retail and person-to-person transfers, targeting both individual consumers and businesses of varying sizes.

Key products and services in PayPal’s portfolio include the PayPal wallet and checkout ecosystem, the Venmo peer-to-peer mobile app, Braintree’s developer-focused payment gateway, Xoom for international money transfers, and PayPal Credit and buy-now-pay-later options.